NEAR Surges on Confidential Perpetual Futures Rollout

The NEAR Protocol token has seen significant gains over the past week, surging more than 80% as traders react to the rollout of confidential perpetual futures. The rally accelerated after near.com made Hyperliquid perpetuals confidential by default on September 17, extending privacy features already used for swaps and cross-chain transfers into leveraged trading.

The introduction of confidentiality has led to a surge in daily trading volume, which approached $2 billion, more than double the previous day's level. Market capitalization climbed to roughly $5.45 billion, with NEAR trading near $4.17 on September 21.

Near.com's perpetual interface gives traders access to over 50 Hyperliquid markets with leverage of up to 40x. The underlying positions and orders remain visible on Hyperliquid, while the privacy layer obscures the link between a trader's funding activity and the dedicated account used for the position.